2017-09-13T21:36:49-05:00 2016-12-31 410746749 CLIFTONLARSONALLEN LLP 20 E THOMAS RD STE 2300 PHOENIX AZ 85012 990 2016-01-01 952653867 FIRST FINANCIAL CREDIT UNION FIRS 8005378491 1600 WEST CAMERON AVENUE WEST COVINA CA 917930090 DIETMAR HUESCH EVP/COO/CFO 8005378491 2017-07-24 1 ANNE B DAVISON P00944246 6022662248 67.137.57.251 2017-07-24 14:18:51 US P 93F8E39FF1A637C548B493952A1C3FBE4FB30466 2B5AAD1F1FCE88A7528B5F9D16D79162CB963461 2016 2021-01-29 14:40:06Z DIETMAR HUESCH 1600 WEST CAMERON AVENUE WEST COVINA CA 917930090 28236361 0 X WWW.FFCU.ORG X CREDIT UNION 1933 CA TO BE A PROGRESSIVE FINANCIAL ORGANIZATION OFFERING PRODUCTS AND SERVICES TO MEET MEMBER NEEDS. 7 7 221 9 31805 -97242 0 0 23802958 27773565 1029805 430788 0 0 24832763 28204353 23500 25750 0 859263 13120444 14230513 0 0 0 9883761 10058208 23027705 25173734 1805058 3030619 446890374 510745803 408453596 469267899 38436778 41477904 X TO BE A PROGRESSIVE FINANCIAL ORGANIZATION OFFERING COMPETITIVE FINANCIAL & RELATED PRODUCTS AND SERVICES TO MEET EVOLVING MEMBER NEEDS WITH AN EMPHASIS ON HIGH QUALITY SERVICE DELIVERY, WHILE MAINTAINING A LEVEL OF EARNINGS THAT PROMOTES FINANCIAL SECURITY. FIRST FINANCIAL CREDIT UNION WILL BE THE EDUCATIONAL CREDIT UNION THAT BEST HELPS MEMBERS ACHIEVE THEIR FINANCIAL DREAMS AND BE THE MOST DESIRABLE AND REWARDING PLACE OF EMPLOYMENT. 0 0 ACHIEVED A 95% OR GREATER "RECOMMEND A FRIEND" RATING ON MEMBER INTERACTIVE STUDY THROUGHOUT 2016; PROVIDED MEMBER SATISFACTION BY OFFERING COMPETITIVE RATES. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 4587 0 1 221 1 1 1 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 0 CA X THE ORGANIZATION 6268144611 1600 WEST CAMERON AVENUE WEST COVINA CA 917930090 SHIRLEY BURKHARDT BOARD MEMBER 1.00 X 0 0 0 RONALD TROTTER VICE CHAIRPERSON 1.00 X 0 0 0 ASA BERT CHAIRPERSON 1.00 X 0 0 0 KNOWELLE DECKER BOARD MEMBER 1.00 X 0 0 0 JIM WEIDNER TREASURER 1.00 X 0 0 0 JAMES DILDAY BOARD MEMBER 1.00 X 0 0 0 KARI MCWHIRTER BOARD MEMBER 1.00 X 0 0 0 CARLTON MUSMANN PRESIDENT/CEO 40.00 X 462964 0 25405 DIETMAR HUESCH EVP COO/CFO 40.00 X 273331 0 17071 VALERIE WILKINS VP 40.00 X 183120 0 15477 TORRI SCOTT VP 40.00 X 175872 0 5699 SANDRA SARABIA VP 40.00 X 174918 0 16514 VIVIAN VEGA DOMINGUEZ VP 40.00 X 174672 0 11540 CYNTHIA MANNS VP 40.00 X 182799 0 11333 CARLO GO VP 40.00 X 171404 0 6603 JOHN BASCO ASSISTANT VP 40.00 X 161777 0 13048 ROBERT CHEN ASSISTANT VP 40.00 X 173551 0 10671 FRED PEREZ VP/ CLO 40.00 X 193030 0 16073 SHERRY JAVAD VP 40.00 X 172485 0 10940 DANA SIMPSON ASSISTANT VP 40.00 X 142654 0 10660 KATHY TICHENOR VP 40.00 X 116488 0 7231 2759065 0 178265 20 1 1 0 JACK HENRY & ASSOCIATES INC PO BOX 609 MONETT MO 65708 SYSTEM MAINTENANCE 1193883 STRAIGHT ARROW CONSTRUCTION 466 W ARROW HWY STE G SAN DIMAS CA 91773 BUILDING REPAIRS AND IMPROVEMENTS 984553 VOYA TRUST ONE ORANGE WAY WINSOR CT 06095 401K ACCOUNT MANAGEMENT 793474 FISERV SOLUTIONS 75 REMITTANCE DR CHICAGO IL 606756945 SYSTEM MAINTENANCE 479048 BUSINESS DATA INC PO BOX 6081 INGLEWOOD CA 90312 MEMBER STATEMENTS 334726 25 - 522100 20913148 20913148 FEE INCOME 522100 3731276 3699471 31805 OTHER NON-INTEREST INCOME 522100 3129141 3129141 27773565 462796 462796 32008 -32008 -32008 -32008 28204353 27741760 31805 430788 25750 859263 2937330 8391318 700497 1363091 838277 114942 17693 350984 404416 517792 1776803 90947 13873 1416266 121402 PROVISION FOR LOAN LOSS 1499504 MISCELLANEOUS 578490 COMMUNICATIONS 552670 VISA DEBIT CARD SERVICE 515777 2086649 25173734 6923192 7572960 5274990 38725055 11319527 7022650 383250419 408866280 29629776 20319780 7365203 9309996 14695508 19673316 18061535 19575546 446890374 510745803 2296763 3423642 406156833 465844257 408453596 469267899 X 0 0 0 0 38436778 41477904 38436778 41477904 446890374 510745803 3030619 10507 0 X X 0 1 X 1 0 3081485 3081485 7256169 5188757 2067412 5314770 3989871 1324899 13977352 11141152 2836200 9309996 MEMBER'S SHARES & SAVINGS ACCOUNTS 465489810 INTEREST & DIVIDENDS PAYABLE 354447 465844257 X PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL AND STATE INCOME TAXES. A TAX POSITION IS RECOGNIZED AS A BENEFIT ONLY IF IT IS "MORE LIKELY THAN NOT" THAT THE TAX POSITION WOULD BE SUSTAINED IN A TAX EXAMINATION, WITH A TAX EXAMINATION BEING PRESUMED TO OCCUR. THE AMOUNT RECOGNIZED IS THE LARGEST AMOUNT OF TAX BENEFIT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED ON EXAMINATION. FOR TAX POSITIONS NOT MEETING THE "MORE LIKELY THAN NOT" TEST, NO TAX BENEFIT IS RECORDED. 1 SCHOLARSHIPS 10 5000 TEACHER GRANTS 20 10000 SUPPLIES GRANTS 27 6750 TEACHER CREDENTIAL GRANTS 4 4000 PART I, LINE 2: THE CREDIT UNION AWARDS STUDENTS WITH A SCHOLARSHIP TO HELP DEFRAY THE COST OF COLLEGE (TUITION, BOOKS, ETC.) AND AWARDS TEACHERS WITH GRANTS TO PURCHASE EDUCATIONAL MATERIALS TO FURTHER ENHANCE THEIR CURRICULUM/CLASSROOM. X X X 0 0 0 CARLTON MUSMANN PRESIDENT/CEO 382969 0 31824 0 48171 0 10600 0 14805 0 488369 0 0 0 DIETMAR HUESCH EVP COO/CFO 236865 0 14059 0 22407 0 10037 0 7034 0 290402 0 0 0 VALERIE WILKINS VP 172929 0 8211 0 1980 0 7246 0 8231 0 198597 0 0 0 TORRI SCOTT VP 167241 0 7941 0 690 0 209 0 5490 0 181571 0 0 0 SANDRA SARABIA VP 166330 0 7898 0 690 0 6969 0 9545 0 191432 0 0 0 VIVIAN VEGA DOMINGUEZ VP 166324 0 7898 0 450 0 6969 0 4571 0 186212 0 0 0 CYNTHIA MANNS VP 164328 0 7803 0 10668 0 6885 0 4448 0 194132 0 0 0 CARLO GO VP 157602 0 7484 0 6318 0 6603 0 0 0 178007 0 0 0 JOHN BASCO ASSISTANT VP 144961 0 5134 0 11682 0 6004 0 7044 0 174825 0 0 0 ROBERT CHEN ASSISTANT VP 154915 0 5517 0 13119 0 6417 0 4254 0 184222 0 0 0 FRED PEREZ VP/ CLO 183616 0 8719 0 695 0 7693 0 8380 0 209103 0 0 0 SHERRY JAVAD VP 150967 0 7224 0 14294 0 6492 0 4448 0 183425 0 0 0 DANA SIMPSON ASSISTANT VP 134533 0 4530 0 3591 0 5563 0 5097 0 153314 0 0 0 KATHY TICHENOR VP 90784 0 6788 0 18916 0 3903 0 3328 0 123719 0 0 0 PART I, LINE 4 EFFECTIVE JULY 1, 2006, THE CREDIT UNION ADOPTED A NON-QUALIFIED SECTION 457(F) DEFERRED COMPENSATION PLAN FOR THE BENEFIT OF THE CURRENT CEO. AS OF FEBRUARY 16, 2007, THE PLAN WAS AMENDED AND A LIFE INSURANCE AGREEMENT WAS ESTABLISHED WITH THE CEO. AS OF DECEMBER 31, 2016, THE PLAN HAD ASSETS OF $10,129,203 AND ACCRUED LIABILITIES OF $2,500,000 UNDER THE TERMS OF THE PLAN. AS OF JANUARY 1, 2015, THE CREDIT UNION ADOPTED A NEW NON-QUALIFIED SECTION 457(F) DEFERRED COMPENSATION PLAN FOR THE BENEFIT OF THE CURRENT CEO. AS OF DECEMBER 31, 2016, THE PLAN HAD ASSETS OF $5,587,234 AND AN ACCRUED LIABILITY OF $623,364. DEFERRED COMPENSATION EXPENSE WAS $328,061 AND $306,126 FOR THE YEARS ENDED DECEMBER 31, 2016 AND 2015, RESPECTIVELY. FORM 990, PART VI, SECTION A, LINE 6 FIRST FINANCIAL CREDIT UNION IS A COOPERATIVE FINANCIAL INSTITUTION THAT IS OWNED AND CONTROLLED BY ITS MEMBERS, AND OPERATED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS TO ITS MEMBERS. FIRST FINANCIAL CREDIT UNION DOES NOT HAVE STOCKHOLDERS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BOARD OF FIRST FINANCIAL CREDIT UNION IS COMPRISED OF VOLUNTEER MEMBERS WHO ARE DIRECTLY ELECTED BY ITS MEMBERS. EACH MEMBER OF THE GOVERNING BOARD SERVES FOR A PERIOD AS PRESCRIBED BY OUR BY-LAWS. FORM 990, PART VI, SECTION A, LINE 7B MANAGEMENT AND OPERATIONAL DECISIONS ARE MADE BY THE OFFICERS OF FIRST FINANCIAL CREDIT UNION. HOWEVER, PLANNING, OVERSIGHT, AND GOVERNANCE DECISIONS ARE MADE PRIMARILY THROUGH THE GOVERNING BOARD. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WILL BE REVIEWED BY THE BOARD DURING THE BOARD MEETING BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C FFCU'S TRAINING DEPARTMENT CONDUCTS REGULAR TRAINING TO ENSURE THAT ALL EMPLOYEES OF FFCU AND VOLUNTEERS COMPLY WITH THE POLICIES. FORM 990, PART VI, SECTION B, LINE 15 THE CEO'S COMPENSATION IS REVIEWED AND APPROVED BY THE BOARD MEMBERS. EXECUTIVE MANAGEMENT REVIEWS AND APPROVES ALL COMPENSATION RELATED MATTERS. A SET COMPENSATION POLICY PROCESS IS FOLLOWED IN THE DETERMINATION OF THE COMPENSATION OF EACH INDIVIDUAL EMPLOYEE. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS & POLICIES ARE AVAILABLE ON THE FIRST FINANCIAL WEBSITE. ALL DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST TO THE PUBLIC. FINANCIAL STATEMENTS ARE POSTED AT EACH BRANCH AT THE END OF EACH MONTH END CLOSING. FORM 990, PART XII, LINE 2C: THERE HAS BEEN NO CHANGE IN THE OVERSIGHT PROCESS FOR THE AUDIT OF THE FINANCIAL STATEMENTS OR THE SELECTION OF THE INDEPENDENT AUDITOR. TSA SPECIAL MEMBER & INSURANCE SERVICES INC PO BOX 9020 WEST COVINA CA 917939020 954176990 INSURANCE SERVICES CA C 5021 793050 1.00000 1 1 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 0 0 TSA SPECIAL MEMBER & INSURANCE SERVICES INC A 7750 CASH PAID